Did the rebuild a few days ago with FEP encapsulated all around, and figured I'd give an update. Here's my tips:
-I agree Buna-N may be a better choice for the sensor seal as it didnt seem to be too hard or worn compared to the other rings I pulled out, and the FEP was difficult to get on. I used a "4 Piece Pick And Hook Set" I picked up from Harbor Freight for $1.00, to stretch it into place. There was a little deformation caused by the aggressive handling, but it appeared to seal properly, and so far its holding fine.
-The pick and hook set made it easier to get some of the original rings off their posts, but it is definitely doable without one.
-While trying to remove the hex bolt, I broke the terminal off the sensor attached to the back of the pump. I recommend pulling this sensor and the wires connected to it off before even removing the pump from the car, and leaving it off until reassembly to prevent damage as it had become brittle. I was able to fix the sensor using epoxy putty, and then sealing it back up with silicone, but I don't like having stuff ghetto rigged on my car.
-It would probably be a good idea to soak all the bolts with PB blaster before attempting this, and if you don't have a bench vise to hold the pump once its off the car, try to break as many of the bolts loose as possible while still mounted. (The pulley and Hex bolt were a **** to get off without anything holding the pump. Its very difficult to get the proper leverage on them. This is how I broke my sensor. When the bolt finally broke loose, I rolled the pump from all the torque I was putting on it, and smashed the sensor off even though I was working on a foam mat.)

When I purchased the car, the pump was already going out, and I was having to refill the reservoir every month or so, there were bubbles in the reservoir whenever I drove it, and fluid was pooling on top of the block. I had to constantly fight my steering at low RPMs, making navigating through parking lots and making U-turns a pain. My power steering would completely cut out mid turn, making it pretty dangerous to drive, as I never knew when I would have to muscle the wheel around to keep from understeering into other cars. After the rebuild all my problems appear to be solved. I haven't checked for leaks since re-installing on Saturday, but I will update should I find any in the future.
So far I'm very pleased with my results, and my only real complaint would be about breaking my "Power Steering Pressure Switch", but this can be easily avoided with a little care.